Tag Archives: capital

The Rowboat (Wages) and the Yacht (Assets)

The reason why the status quo has failed and is fragmenting is displayed in these three charts of wages, employment and assets: wage earners (labor) are in a rowboat trying to catch the yacht of those who own assets (capital). Here … Continue reading

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What Would a Labor-Centered Economy Look Like?

Let’s spend a moment deconstructing the word “capitalism.” Note it contains the word Capital. So far so good. Obviously the key concept here is capital. So what is “capital”? It turns out there are multiple kinds of capital. The most … Continue reading

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The Coming War of Central Banks

History has shifted, and we’re leaving the era of central bank convergence and entering the era of central bank divergence, i.e. open conflict. In the good old days circa 2009-2014, central banks acted in concert to flood the global banking … Continue reading

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The Most Profitable Work Will Be Automated: The Rest Will Be Left to Us

What’s abundant and what’s scarce? The question matters because as economist Michael Spence (among others) has noted, value and profits flow to what’s scarce.What’s in over-supply has little to no scarcity value and hence little to no profitability. What’s abundant … Continue reading

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Why I Will Never Hire Anyone, Even at $1/Hour

One of the most appealing beliefs about technology–that it will always create more jobs than it destroys–is no longer true. It was true in the first and second industrial revolutions, for one simple reason: the new industrial revolution created vast … Continue reading

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